37 Torsey Shores Rd · Winthrop, ME 04355

$168,900

1 bd · 1.0 ba · 224 sqft · SingleFamily public records · 3 Days on market

Built 1970 0.84 ac lot $29/mo HOA · 2% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to your cabin by the lake! This cozy home has had many updates as well as a full bathroom addition to add to your comfort and relaxation! Multiple access points to Torsey Lake, with one just steps from the driveway! This remodel includes new walls, new floors, a new spiral staircase with maple treads up to the bedrooms, a woodstove and brand new Rinnai heater, live-edge counters in the kitchen, and more! Quiet wooded lot to explore the trails or relax by the fire pit. Walk down to the nearest right of way to put in your kayak or boat, or your snowmobile in the winter! Torsey Lake has 679 acres, no jet skis, great fishing, and plenty of space to feel like you're all alone on the water. Access to a larger association beach & boat area further down on Torsey Shores Rd as well. Readfield is a great, small town with plenty of recreation opportunities: Hiking Areas, Water Access, Snowmobile Trails, Conservation & Recreation Areas and Easements. Less than 5 minutes from Kent's Hill School & orchards, 20 minutes over to Augusta, and just over an hour to Portland. Make this your get-away location or invest as an AirBnB!

Key facts

• Quiet wooded lot
• Cabin by the lake
• New walls

Tags

• CABIN BY THE LAKE
• ACCESS TO THE BEACH
• QUIET WOODED LOT
• NEW FLOORING
• NEW WALLS
• WASHER DRYER

Property features AI

Finance

• HOA & community: Association with $350 annual fee

Exterior

• Parking: On-site gravel parking with 1–4 spaces
• Utilities: Private well water; Private sewer with septic design available; Circuit breaker electric
• Home design: Single family residence; Built in 1970
• Construction: Wood frame construction; Wood siding; Shingle roof; 483 sq ft building area
• Exterior features: Porch; Waterfront on Torsey Pond; Seasonal water view

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Bedroom on second level
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiator heating; Wood stove heat
• Interior features: Furnished; Eat-in kitchen; Seasonal pond view
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 8.8% vs local median 2.0% in Winthrop — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#76 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A, housing A; Watch: health & safety C-, employment D, amenities F.
• RSU 38 (rural): math 89% / reading 89% proficiency, ranked #27 of 112 in ME (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 13 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $128k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $168,900

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 3.43×
• Total profit: $114,889
• Equity at exit: $152,159

10-year hold

• IRR: 26.8%
• Equity multiple: 7.77×
• Total profit: $320,275
• Equity at exit: $328,136

Cash invested: $47,292 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04355

• Home prices YoY: 19.1%
• Active inventory: 13
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,842 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$70
• HOA: −$29
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $360

Break-even live

Break-even rent $1,387

Max offer price $168,900

Occupancy floor 75%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,225
• Closing costs: $5,067
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr
• Likely covers: water

Listing history 19 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   listed $168,900 Active
3. 2025-06-29
   price $175,000
4. 2025-06-17
   price $179,900
5. 2025-06-05
   price $189,900
6. 2025-05-26
   price $195,000
7. 2021-12-07
   soldstatus $128,000 Closed 1159-char remark

   Show marketing remark (1159 chars)

   Welcome to your cabin by the lake! This cozy home has had many updates as well as a full bathroom addition to add to your comfort and relaxation! Multiple access points to Torsey Lake, with one just steps from the driveway! This remodel includes new walls, new floors, a new spiral staircase with maple treads up to the bedrooms, a woodstove and brand new Rinnai heater, live-edge counters in the kitchen, and more! Quiet wooded lot to explore the trails or relax by the fire pit. Walk down to the nearest right of way to put in your kayak or boat, or your snowmobile in the winter! Torsey Lake has 679 acres, no jet skis, great fishing, and plenty of space to feel like you're all alone on the water. Access to a larger association beach & boat area further down on Torsey Shores Rd as well. Readfield is a great, small town with plenty of recreation opportunities: Hiking Areas, Water Access, Snowmobile Trails, Conservation & Recreation Areas and Easements. Less than 5 minutes from Kent's Hill School & orchards, 20 minutes over to Augusta, and just over an hour to Portland. Make this your get-away location or invest as an AirBnB!

8. 2021-10-09
   status Pending - Continue to Show 1159-char remark

   Show marketing remark (1159 chars)

   Welcome to your cabin by the lake! This cozy home has had many updates as well as a full bathroom addition to add to your comfort and relaxation! Multiple access points to Torsey Lake, with one just steps from the driveway! This remodel includes new walls, new floors, a new spiral staircase with maple treads up to the bedrooms, a woodstove and brand new Rinnai heater, live-edge counters in the kitchen, and more! Quiet wooded lot to explore the trails or relax by the fire pit. Walk down to the nearest right of way to put in your kayak or boat, or your snowmobile in the winter! Torsey Lake has 679 acres, no jet skis, great fishing, and plenty of space to feel like you're all alone on the water. Access to a larger association beach & boat area further down on Torsey Shores Rd as well. Readfield is a great, small town with plenty of recreation opportunities: Hiking Areas, Water Access, Snowmobile Trails, Conservation & Recreation Areas and Easements. Less than 5 minutes from Kent's Hill School & orchards, 20 minutes over to Augusta, and just over an hour to Portland. Make this your get-away location or invest as an AirBnB!

9. 2021-10-04
   price $127,500 1159-char remark

   Show marketing remark (1159 chars)

   Welcome to your cabin by the lake! This cozy home has had many updates as well as a full bathroom addition to add to your comfort and relaxation! Multiple access points to Torsey Lake, with one just steps from the driveway! This remodel includes new walls, new floors, a new spiral staircase with maple treads up to the bedrooms, a woodstove and brand new Rinnai heater, live-edge counters in the kitchen, and more! Quiet wooded lot to explore the trails or relax by the fire pit. Walk down to the nearest right of way to put in your kayak or boat, or your snowmobile in the winter! Torsey Lake has 679 acres, no jet skis, great fishing, and plenty of space to feel like you're all alone on the water. Access to a larger association beach & boat area further down on Torsey Shores Rd as well. Readfield is a great, small town with plenty of recreation opportunities: Hiking Areas, Water Access, Snowmobile Trails, Conservation & Recreation Areas and Easements. Less than 5 minutes from Kent's Hill School & orchards, 20 minutes over to Augusta, and just over an hour to Portland. Make this your get-away location or invest as an AirBnB!

10. 2021-09-23
    listed $140,000 Active 1159-char remark

    Show marketing remark (1159 chars)

    Welcome to your cabin by the lake! This cozy home has had many updates as well as a full bathroom addition to add to your comfort and relaxation! Multiple access points to Torsey Lake, with one just steps from the driveway! This remodel includes new walls, new floors, a new spiral staircase with maple treads up to the bedrooms, a woodstove and brand new Rinnai heater, live-edge counters in the kitchen, and more! Quiet wooded lot to explore the trails or relax by the fire pit. Walk down to the nearest right of way to put in your kayak or boat, or your snowmobile in the winter! Torsey Lake has 679 acres, no jet skis, great fishing, and plenty of space to feel like you're all alone on the water. Access to a larger association beach & boat area further down on Torsey Shores Rd as well. Readfield is a great, small town with plenty of recreation opportunities: Hiking Areas, Water Access, Snowmobile Trails, Conservation & Recreation Areas and Easements. Less than 5 minutes from Kent's Hill School & orchards, 20 minutes over to Augusta, and just over an hour to Portland. Make this your get-away location or invest as an AirBnB!

11. 2021-02-04
    soldstatus $49,000 Closed
12. 2021-01-21
    status Pending - Continue to Show
13. 2020-11-04
    listed $54,900 Active
14. 2020-07-31
    historical
15. 2020-02-02
    status Active
16. 2020-02-01
    historical
17. 2019-08-16
    listed $59,900 Active
18. 2011-05-04
    listed $75,000
19. 2010-07-27
    listed $75,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $1,324 · $110/mo
• Projected year-2 tax: $1,811 · $151/mo
• Expected delta: +$487/yr (+$41/mo · 36.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,105
• − Mortgage interest: −$9,461
• − Property taxes: −$1,324
• − Insurance: −$844
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − HOA: −$348
• − Depreciation: −$4,913
• Taxable income: $1,678
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $3,915/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: RSU 38
• NCES district ID: 2314788
• Math proficiency: 89% ▲ 54.00%
• Reading proficiency: 89% ▲ 29.00%
• Median HH income: $63,163
• Composite: 76.39/100
• National rank: #107
• State rank: #27 of 112 in ME

Livability — Winthrop

• Score: 69/100
• State rank: #76
• US rank: #8395

Category grades

Amenities F Commute F Cost of living A Crime A+ Employment D Housing A Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,153
• Population (ZIP): 2,628

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 8% Slovak 6% Serbian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 65.62%
• Current HPI: 408.9683
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+125.2% since first listed

19 events — show timeline

• 2026-05-15 Pending — MREIS
• 2026-05-12 Listed $168,900 MREIS
• 2025-06-29 Price Changed $175,000 MREIS
• 2025-06-17 Price Changed $179,900 MREIS
• 2025-06-05 Price Changed $189,900 MREIS
• 2025-05-26 Price Changed $195,000 MREIS
• 2021-12-07 Sold (MLS) $128,000 MREIS
• 2021-10-09 Pending — MREIS
• 2021-10-04 Price Changed $127,500 MREIS
• 2021-09-23 Listed $140,000 MREIS
• 2021-02-04 Sold (MLS) $49,000 MREIS
• 2021-01-21 Pending — MREIS
• 2020-11-04 Listed $54,900 MREIS
• 2020-07-31 Delisted — MREIS
• 2020-02-02 Relisted — MREIS
• 2020-02-01 Delisted — MREIS
• 2019-08-16 Listed $59,900 MREIS
• 2011-05-04 Listed $75,000 MREIS
• 2010-07-27 Listed $75,000 MREIS

Property tax history

+2.5%/yr

Latest (2025): $1,324 · +3.8% YoY. Source: county tax records.